What Factors Do You Believe Have the Most Impact on a Consumer's Buying Decision? Why?

What factors do you believe have the most impact on a consumer's buying decision? Why?

The markets today are predominantly driven by consumer demand and companies spend huge amounts of resources in trying to understand and influence factors that determine and arouse these consumers need.

Before making a purchase an individual will typically undergo stages of a buying process1 – a problem or need that the consumer recognizes based on physical cues or a stimulus response. After establishing this requirement the buyer will conduct an information search internally – recalling past experiences; and externally – reviews of friends/family or online websites and/or advertising messages. A purchase decision is reached based on the evaluation of alternative options, where to spend and what to spend it on. Following the purchase, a consumer will typically make a post-purchase evolution based on whether he/she is satisfied with the whole buying experience and this largely determines whether that consumer will purchase that product/brand/service again. Within this decision making process there are various influences which drives and motivates consumer behavior resulting in making the right buying decision. Consumers generally base their buying decisions on same type of needs and wants. Needs are the basic necessity of life as in food, clothing, housing. Wants are based on a person's learning experience and is related to goods and services that are not basic requirement but more for luxury and one's interest.

Before making a purchase an individual will typically undergo stages of a buying process1 – a problem or need that the consumer recognizes based on physical cues or a stimulus response. After establishing this requirement the buyer will conduct an information search internally – recalling past experiences; and externally – reviews of friends/family or online websites and/or advertising